Jeppson Wealth Management LLC Sells 162 Shares of Abbott Laboratories (NYSE:ABT)

Jeppson Wealth Management LLC trimmed its stake in shares of Abbott Laboratories (NYSE:ABT) by 1.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,843 shares of the healthcare product maker’s stock after selling 162 shares during the period. Jeppson Wealth Management LLC’s holdings in Abbott Laboratories were worth $1,438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Unique Wealth Strategies LLC purchased a new stake in shares of Abbott Laboratories in the second quarter worth about $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new position in shares of Abbott Laboratories during the 4th quarter valued at approximately $29,000. Redmont Wealth Advisors LLC bought a new stake in Abbott Laboratories in the first quarter worth $30,000. Finally, True Wealth Design LLC raised its stake in Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock valued at $35,000 after purchasing an additional 302 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

Abbott Laboratories Trading Up 0.8 %

ABT stock traded up $0.89 during midday trading on Friday, reaching $113.99. The company’s stock had a trading volume of 210,469 shares, compared to its average volume of 5,834,630. The firm has a market capitalization of $198.30 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 2.82 and a beta of 0.72. Abbott Laboratories has a 1 year low of $89.67 and a 1 year high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The stock has a fifty day simple moving average of $107.67 and a two-hundred day simple moving average of $108.79.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. On average, equities research analysts predict that Abbott Laboratories will post 4.66 EPS for the current year.

Abbott Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Monday, July 15th. This represents a $2.20 annualized dividend and a yield of 1.93%. Abbott Laboratories’s payout ratio is currently 68.54%.

Analyst Upgrades and Downgrades

ABT has been the topic of a number of research reports. Barclays boosted their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Edward Jones downgraded Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Abbott Laboratories in a report on Tuesday, June 4th. Evercore ISI decreased their price target on Abbott Laboratories from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Citigroup lifted their price objective on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Abbott Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $121.80.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.